Mexico’s New Finance Minister Pledges to Keep AMLO’s Austerity
- Finance Minister Rogelio Ramirez de la O takes office Friday
- Ramirez to optimize internal resources before borrowing more
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Mexico’s new Finance Minister Rogelio Ramirez de la O pledged to maintain the country’s austerity, making a better use of the its resources instead of increasing the debt burden, according to a statement as he took office Friday.
Ramirez, a longtime ally and third Finance Minister of President Andres Manuel Lopez Obrador, begins what in Mexico is considered the most influential cabinet role with the goal of obtaining a level of independence his predecessors didn’t attain. He committed to continuing Lopez Obrador’s policies while keeping healthy fiscal accounts, rein in the billions of dollars in debt of state-owned oil company Petroleos Mexicanos and prepare a multiyear financial plan through 2024.